197 Lisbon St - Apartments FOR SALE


Lewiston, ME 04240
$2,385,000 USD
207-544-4100
197 Lisbon St, Lewiston, ME for Sale
$2,385,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

197 Lisbon St
Lewiston, ME 04240


HIGHLIGHTS

  • Luxury 13-unit mixed use property located in the heart of Downtown Lewiston

OVERVIEW

The property was completely gutted & remodeled in 2021, featuring one (1) 4,257± SF first-floor retail/office space, six (6) one (1) bedroom, & six (6) two (2) bedroom luxury apartment units. A portion of the basement is finished and could be rented for additional income. Lewiston’s commercial real estate market is experiencing robust growth, with new developments and motivated city officials working to transform the downtown area. This property offers an excellent opportunity for investors to take advantage of the city’s upward trajectory. Credit Enhancement Agreement is transferable with the consent of the City Administrator, so long as the new owner maintains and operates the building in the same manner and spirit as current owner. $27,108.28 of the $100,000 maximum reimbursement has been paid as of March 2025.

FOR SALE DETAILS

PRICE

$2,385,000 USD

PRICE/SF

$95 USD /SF

# OF UNITS

12

PRICE/UNIT

$198,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1883

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,110 SF

ZONING

CV

APN/PARCEL ID

LEWI-000207-000000-000102

ASK ABOUT THIS PROPERTY

Noah StebbinsThe Boulos CompanyMore Info
207-544-4100

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Noah StebbinsThe Boulos CompanyMore Info
207-544-4100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.